The company appreciates the support from the ICO and the boost from the MARF very positively

Audax Renovables (ADX.MC), the energy group that integrates the business of generating and marketing 100% of renewable electricity, has completed a €65 million bond issue after receiving a €84 million claim requiring a significant pro rata share.

Audax Renovables' promissory note program has a limit of €200 million, of which €65.1% has been drawn. The company considers this percentage optimal to achieve its future objectives. The maturity of this issue was up to 24 months, after receipt of all tranches upon request, and the issue costs amounted to €0.81%.

This transaction was carried out by ICO (Instituto de Crédito Official) Audax Renovables considers this to be a very positive support and a cornerstone for the success of the project. The company also highlights the excellent cooperation and flexibility that the MARF (Alternative Fixed Income Market) to facilitate the transaction. This close collaboration between Audax Renovables, the ICO, and the MARF contributed significantly to the outstanding market reception of the offering.

Audax Renovables confirms that this bond issue will help strengthen the company's liquidity and enable it to cover all its obligations until June 2021 without further issuance. This will enable the company to maintain significant additional liquidity to make future investments in renewable energy generation and anticipate new market opportunities.

Audax Renovables has carried out important transactions in the field of renewable energy generation, both in the renewable energy sector (with the first issuance of green bonds for the immediate construction of eight photovoltaic parks in Toledo and Guadalajara) and in the field of internationalization, with the entry into the Hungarian market (through the acquisition of E.ON Energiakereskedelmi Kft.) and with the purchase of the Portuguese distribution company PH Simples, which placed Audax as the sixth company in the Portuguese electricity market, behind the large traditional energy groups.

Audax Renovables continues its excellent business performance, both in the generation and marketing of 100% of renewable electricity, and will shortly publish its results for the first half of 2020.

Globally, the Audax Group continues its roadmap to achieve its 2022 targets, increasing its customer portfolio to 500,000 and delivering a total of 15 TWh of energy. Furthermore, it plans to increase revenue to over €1.5 billion, increase EBITDA to over €100 million, and reduce its financial leverage. All this with the goal of accelerating growth, optimizing its resources, and creating value for its shareholders.